Company Valuation: Bumi Armada

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,776 2,841 2,932 3,883 1,749 1,956 - -
Change - 2.32% 3.21% 32.44% -54.96% 11.87% - -
Enterprise Value (EV) 1 8,900 7,507 6,582 6,187 2,809 2,636 2,172 1,708
Change - -15.65% -12.32% -5.99% -54.59% -6.18% -17.6% -21.33%
P/E 4.83x 3.88x 8.82x 6.12x 3.98x 7.35x 6.62x 6.4x
PBR 0.71x 0.56x 0.53x 0.64x 0.3x 0.32x 0.3x 0.29x
PEG - 0.1x -0.2x 0.1x -0.1x -0.2x 0.6x 1.89x
Capitalization / Revenue 1.28x 1.18x 1.37x 1.69x 1.1x 1.45x 1.5x 1.52x
EV / Revenue 4.12x 3.12x 3.09x 2.69x 1.77x 1.96x 1.67x 1.33x
EV / EBITDA 6.17x 5.48x 7.27x 5.07x 3.12x 4.7x 3.84x 3.26x
EV / EBIT 9.11x 7.31x 11.5x 6.7x 4.35x 8.96x 6.07x 4.85x
EV / FCF 6.6x 5.57x 5.77x 3.61x 2.72x 2.8x 1.86x 1.45x
FCF Yield 15.1% 18% 17.3% 27.7% 36.7% 35.7% 53.7% 69.2%
Dividend per Share 2 - - - - 0.01 0.0146 0.0153 0.0153
Rate of return - - - - 3.39% 4.42% 4.63% 4.65%
EPS 2 0.0974 0.1238 0.0561 0.107 0.0741 0.0449 0.0499 0.0516
Distribution rate - - - - 13.5% 32.5% 30.7% 29.7%
Net sales 1 2,163 2,406 2,133 2,299 1,589 1,345 1,302 1,285
EBITDA 1 1,443 1,369 905.2 1,219 901.6 561.2 565.8 523.7
EBIT 1 977.4 1,027 571.7 923.1 646.6 294.1 357.6 352
Net income 1 574.1 732.4 332.1 634 439 272.8 301.4 316
Net Debt 1 6,123 4,666 3,650 2,304 1,061 679.5 215.5 -247.8
Reference price 2 0.4700 0.4800 0.4950 0.6550 0.2950 0.3300 0.3300 0.3300
Nbr of stocks (in thousands) 5,907,045 5,918,047 5,922,666 5,927,875 5,927,911 5,927,981 - -
Announcement Date 2/25/22 2/24/23 2/28/24 2/28/25 2/27/26 - - -
1MYR in Million2MYR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.35x1.96x4.7x4.42% 479M
20.03x2.16x9.89x2.41% 72.34B
19.19x2.33x13.16x1.65% 55.59B
14.79x2.02x8.81x5.03% 28.11B
22.34x2.44x12.04x0.29% 26.99B
13.25x1.41x7.7x2.14% 26.54B
32x5.35x20.88x0.89% 16.77B
13.17x1.21x5.17x3.74% 9.82B
26.83x0.51x4.39x3.83% 9.44B
21.09x0.79x6.88x2.06% 6.7B
Average 19.00x 2.02x 9.36x 2.65% 25.28B
Weighted average by Cap. 19.58x 2.21x 10.74x 2.28%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield